EDF has returned to profit despite taking an £11bn hit on its UK nuclear project.
The French energy giant posted profits of £8.5bn by 2023, down from a record £15.3bn loss the previous year.
This was despite rising costs and long delays to the planned Hinkley Point C reactor in Somerset.
Announcing its annual results on Friday, the group revealed an £11bn writedown related to its British operations.
It comes at a time when Hinkley, which would be Britain’s first reactor in more than two decades, remains plagued by continuing setbacks.
Back in the black: The French energy giant posted profits of £8.5bn by 2023, down from a record £15.3bn loss the previous year.
In a blow, EDF warned last month that the new power station is likely to be delayed until 2029 or even 2031 and that the price tag could reach £35bn. That compares with an initial budget of £18 billion and a planned opening of 2025.
EDF said annual profits were boosted by sales to medium and large companies, along with “solid performance” in the nuclear generation business.
